TeraWulf (NASDAQ:WULF) Shares Up 8.6% – Time to Buy?

TeraWulf Inc. (NASDAQ:WULF) shares were up 8.6% during mid-day trading on Tuesday . The company traded as high as $6.32 and last traded at $6.31. Approximately 7,787,157 shares changed hands during trading, a decline of 64% from the average daily volume of 21,538,168 shares. The stock had previously closed at $5.81.

Analyst Upgrades and Downgrades

WULF has been the topic of several research analyst reports. B. Riley boosted their target price on shares of TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Northland Securities increased their price target on TeraWulf from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of TeraWulf in a research note on Thursday, December 5th. Stifel Canada downgraded TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of TeraWulf in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.64.

TeraWulf Stock Performance

The business has a 50-day moving average price of $6.98 and a 200-day moving average price of $5.33.

Institutional Investors Weigh In On TeraWulf

A number of institutional investors have recently added to or reduced their stakes in WULF. FMR LLC boosted its holdings in shares of TeraWulf by 22.0% in the 3rd quarter. FMR LLC now owns 7,803 shares of the company’s stock valued at $37,000 after buying an additional 1,408 shares in the last quarter. Chesapeake Capital Corp IL boosted its stake in TeraWulf by 6.6% in the third quarter. Chesapeake Capital Corp IL now owns 27,500 shares of the company’s stock valued at $136,000 after acquiring an additional 1,700 shares in the last quarter. Amalgamated Bank grew its holdings in TeraWulf by 57.7% in the second quarter. Amalgamated Bank now owns 7,963 shares of the company’s stock worth $35,000 after purchasing an additional 2,912 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of TeraWulf by 13.3% during the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock worth $163,000 after purchasing an additional 4,093 shares in the last quarter. Finally, Aspect Partners LLC purchased a new stake in shares of TeraWulf during the 3rd quarter valued at $26,000. Institutional investors own 62.49% of the company’s stock.

About TeraWulf

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.